On December 11, 2024, the team at the Crypto Asset Management company made an eye-catching prediction that “in 2025… Bitcoin will reach $200,000.”
Bitwise’s optimistic forecasts for Bitcoin were based on several expectations, including asset business and government purchases, ETF flows, and half the impact of 2024.
However, Kingcoin’s current price trajectory has barely been raised. On March 10th, BTC slipped to $78,500. This is the lowest point since November 2024.
The dramatic price drop was caused by disappointment over President Donald Trump’s executive order to establish a strategic Bitcoin reserve. The order required to create a reserve with Bitcoin seized by federal agencies, but did not mention the purchase of additional Bitcoin. Therefore, the government has not purchased any more Bitcoin, at least for now, in contrast to Bitwise’s forecast.
As far as Bitcoin ETFs are concerned, the photos are once again tough. According to the latest data from SOSOValue, these ETFs have seen a $5 billion spill since February.
Furthermore, stock markets are losing this week as the fears of a recession grasp the US economy. The president’s comments about a rough patch for the future didn’t help either.
The former cannot escape the latter’s impact, as the crypto market interacts with traditional markets. Both markets are declining in tandem. Bitcoin was swapping hands just under $81,000 when pressed, following the Kraken Price Chart.
But it is mid-March and is still nine months before the end of 2025. Given the unpredictability of the crypto market, it’s best to wait and see how Bitcoin works in the coming months.
Disclaimer: The above content is for informational purposes only and should not be considered financial advice. Do your own research before investing.